Price is what you pay and value is what you get, how do you stand?

We have all been through the experience of paying RRP on an item which then went on a 50% sale the next day, it’s a real sting. Whether you are a landlord or a tenant it’s great to keep up with the market and ensure you’re not being taken for a ride. The property market across Sydney is down about 15% from the top as the time of this article being written which means rents are bound to follow.

Here is a list of median rent prices across Sydney (5 March 2019)

 

Sydney CBD:  Starting with the capital of our state, entry level studios starting from $650pw the average 2BR apartment will set you back $920pw while larger 3BR apartments come at an average of $1,600pw.

Parramatta:  The up and coming secondary city comes in starting at $450pw for a 2BR and up to $570pw for a 4BR.

Miranda:  CBD of the Sutherland shire has stayed quite firm with 1BR apartments starting at $420 and 3BR ranging upwards of $550.

Kirrawee:   For a 4-bedroom house within the Sutherland shire prices start at $700 while they bottom out at $500 for a 2BR.

Cronulla:  Gods Country is the hidden gem, a beach side apartment from just $390 1BR or up to $800 for a 3BR penthouse while houses are averaging the $900 mark.

Manly: The beautiful coastline of North Sydney has a very dynamic pricing schedule. 2BR houses from $850pw and 4BR up to $1800pw while apartments are starting at $600pw for a 1BR, $800pw for 2BR and $1,200pw for 3BR.

Chatswood:  The high-altitude Northern CBD’s apartments come in at $560pw for 1BR and up to $900 for 3BR while houses start at $700pw for 2BR ranging up to $1,100 for a 4BR.

Hornsby:  Moving along to the neck of the hills district we find Hornsby pricing come in reasonably priced with 1BR apartments starting at $400pw and 3BR up to $550pw, while houses start at $480pw and up to $720pw.

Castle Hill:  The almighty CBD of the glamorous hills district has a very reasonable pricing in the housing department, with 2BR at $450pw and 4BR from $650pw.

Liverpool:  The rapidly evolving CBD of the cross roads, Liverpool has gained investors attention and become a contributing factor to our growing population with the amount of brand-new high-rise buildings and apartments. Rents have dropped due to the over development however, 1BR apartments from $350pw, 2BR $360pw and 3BR $480pw.

Bonnyrigg:  The sleek suburb that sits in-between Fairfield, Liverpool and Cabramatta is a good indication of its surrounding suburb price. Small size houses from $380pw while 3BR is averaging $550pw.

Hoxton Park:  Moving along to the neck of the hills district we find Hornsby pricing come in reasonably priced with 1BR apartments starting at $400pw and 3BR up to $550pw, while houses start at $480pw and up to $720pw.

Campbelltown:  The working town which has been growing into an industrial district and wholesale powerhouse has a great value in rent for tenants. $320pw for a 2BR while 4BR is starting at $450pw.

Penrith:  The foot of the mountains, great livability with great prices- perhaps the true definition of value for tenants. 3BR house $400pw while a 5BR house averages $550pw.

Blacktown:  The multicultural hub of Western Sydney comes in flat at $430pw for a 3BR house and 1BR units starting at just $300pw.

Auburn:  Home of the outlets and middle eastern street food, houses are coming in from $420 for a 2BR, $500 3BR and $600 for 4BR.

Bankstown:  Bankstown not only shares its culture with Auburn but the rental prices are actually the exact same!

 

Are you a landlord in this sinking environment?

PropTech can help you fill in the gaps the correction has caused, with the downturn accelerating and rental figures chasing property value down the hill landlords need to look for an offset. What better place to start than the 2nd largest bill a landlord faces, property management fees.

On average landlords pay $3,00 per year which tallies up to $90,000 over the term of mortgage, this figure is quite alarming as when the market comes tumbling down your agent will not save you, however tech will. Technology has been helping corporations for the last few decades in scaling back costs on staff and scaling up work load, so why not partner with it today and start saving what you shouldn’t be spending.

 

Everyone is loving the added transparency over their asset.

 

Aron Akca

Author

Aron Akca

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